The green & bio-solvents market is estimated to be a high growth market with CAGR of 8% between 2014 and 2021. The green solvent are organic solvent that are produced from agriculture resources like sugarcane, bio Succinic acid, sugarcane, vegetable oils, lactic acids, glycerin etc. High adoption rate is one of the key driver of green solvent and bio solvent market among end- user increases the demand of bio- solvent paints, printing inks, coatings etc. high cost involvement in producing bio solvent is key challenge of the market, the techniques used in producing solvent incurred high cost. Due to easy availability, comparatively improved quality and low price ester solvents segment has high demand. On the other hand methyl solvent is fastest growing market in bio solvent and green solvents because of high availability and high demand in the market. D-limonene and lactate esters are also high growth markets. On the application segment cosmetics, paints, pharmaceutical are having high growth prospect in future for green & bio-solvents.

The biggest market of bio-solvents is North America, followed by Europe. The high market growth is due to strong regulations and policies for bio-solvents and green solvents. The high demand in developed countries is due to high industrialization as compare to developing countries. The government policies for bio and green solvent are supportive but it depends on each countries. The demand of green solvent and bio solvent also varies due to crude oil prices. Due to high fluctuation in oil prices the production cost of bio solvent also varies which varies the demand in the market. In developing countries the market of bio-solvent and green solvent varies due to the policies of developed countries as the domestic demand has to be fulfilled. the market restraints for bio and green solvent is lack of supply of feedstock, low availability and reliability. Another restraints is high cost involvement in new technologies.